{"id":559280,"date":"2024-08-01T07:49:23","date_gmt":"2024-08-01T07:49:23","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=559280"},"modified":"2024-08-01T07:49:23","modified_gmt":"2024-08-01T07:49:23","slug":"dogwifhat-price-prediction-as-wif-plunges-11-and-this-olympic-games-meme-coin-rival-races-past-300k","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/dogwifhat-price-prediction-as-wif-plunges-11-and-this-olympic-games-meme-coin-rival-races-past-300k","title":{"rendered":"Dogwifhat Price Prediction As WIF Plunges 11% And This Olympic Games Meme Coin Rival Races Past $300k"},"content":{"rendered":"

The Dogwifhat price <\/span>plunged<\/span><\/a> over 11% in the last 24 hours to trade at $2.03 as of 12:40 a.m. EST as investors offload their holdings in the meme coin on the market.<\/span><\/p>\n

With this recent pull back, the WIF price is also in the red by more than 19% on the weekly timeframe and 11% over the past month.<\/span><\/p>\n

The Dogwifhat Price At A Crucial Point<\/span><\/h2>\n

\"$WIF<\/p>\n

4-hour chart for WIF\/USD (Source: <\/span>GeckoTerminal<\/span><\/a>)<\/span><\/p>\n

The <\/span>Dogwifhat<\/span><\/a> price is testing the critical support level at $2.0233. Should the crypto fall below this point, it might stand the risk of falling to the next key mark at $1.7192 in the following 24 hours. <\/span><\/p>\n

On the other hand, WIF closing the next three 4-hour candles above $2.0233 could invalidate the bearish thesis. In this alternative scenario, the meme coin might attempt to flip the $2.3272 resistance level into support. Overcoming this technical barrier could then give the Dogwifhat price the space needed to rise to as high as $2.6162 in the short term.<\/span><\/p>\n

Technicals Suggest The Dogwifhat Price Could Continue To Fall<\/span><\/h2>\n

Technical indicators on WIF’s 4-hour chart warn that the meme coin’s price might continue falling in the coming 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing bearish signs. <\/span><\/p>\n

Throughout the past trading session, RSI readings on the 4-hour chart have declined to signal that sellers are overpowering buyers. Now, the RSI stands at 24, which indicates that <\/span>WIF<\/span><\/a> is oversold. Although this might be seen as a long entry by traders, it is not unusual for the RSI to stay this low when a crypto is being dumped.<\/span><\/p>\n

Meanwhile, the MACD line is positioned bearishly below the MACD Signal line. Traders usually see this as a sign that a crypto is in a negative short term trend. With the gap between the two technical indicators widening, it seems WIF’s bearish momentum is growing stronger.<\/span><\/p>\n

If these technical flags are validated, the Dogwifhat price might soon lose the $2.0233 support level.<\/span><\/p>\n

As technicals warn the Dogwifhat price could keep dropping, investors are turning to <\/span>The Meme Games (MGMES)<\/span><\/a>, a project that Y<\/span>ouTuber Austin Hilton recently told his 272,000 subscribers “will be huge.”<\/span><\/p>\n